Fibonacci Crab Pattern

by Sunil Mangwani
(www.fibforex123.com)

The Crab patternThis is the most precise pattern, which has fixed ratios for the set up.In this pattern, the Fibonacci ratios that give reliable reversals are –a.) The D point forms at the 161 projection of XA.b.) The CD forms an extreme wave, which would be anywhere from 2.24 projectionof BC onwards. (2.24, 2.618, 3.14, 3.618)

Harmonic patterns apply specific Fibonacci retracements and extensions to a price structure. These patterns can be quite powerful and often give you straightforward entryand exit points. The main advantage of these patterns is that they leave little to guesswork and rely on specific Fibonacci numbers.